The classical framework is based on which of the following assumptions?
A) many firms in the economy
B) no single firm can control prices
C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded
D) all of the above
E) none of the above
D
Economics
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Which of the following is a statement of positive economics?
a. The income tax reduces after-tax incomes of the rich b. A reduction in tax rates makes the after-tax distribution of income fairer. c. Tax rates ought to be reduced so that people will work more. d. All of the above are statements of positive economics.
Economics
A money market deposit would be considered
a. M1 money b. M1 and M2 money c. M2 money d. M2 and M3 money e. a near money
Economics